Section 8 in The Companies (Cost Accounting Records) Rules, 2011
8. Penalties.
(1)If default is made by the cost accountant in complying with the provisions of these rules, he shall be punishable with fine, which may extend to five thousand rupees.(2)If a company contravenes any provisions of these rules, the company and every officer thereof who is in default; including the persons referred to in sub-section (6) of section 209 of the Act, shall be punishable as provided under sub-section (2) of section 642 read with sub-sections (5) and (7) of section 209 of Companies Act, 1956 (1 of 1956).
